REFILE-Facebook co-founder Moskovitz sold stock post lockup

August 24, 2012|Reuters

Aug 24 (Reuters) - Facebook Inc co-founder DustinMoskovitz sold 450,000 Class A shares over the past three days,his second such sale since last Friday, becoming the latestinsider to sell shares following the end of the lockup,according to a regulatory filing late on Friday evening.

Moskovitz, who was Facebook's first chief technologyofficer, sold the shares in three batches of 150,000 shares eachbeginning on Wednesday, raising more than $8.7 million.

A regulatory filing from Tuesday shows a similar 450,000share sale in three batches beginning last Friday throughTuesday, raising a little over $8.83 million.

Earlier this week, Facebook director Peter Thiel soldroughly $400 million worth of shares in the company, asinvestors look to cash out their stake after the end of thefirst lockup, which barred early investors and insiders fromselling shares following the initial public offering.

Moskovitz, a onetime Harvard roommate of Facebook founderMark Zuckerberg, had been with the company since its earliestdays and left in 2008 to form a social-networking company forbusiness called Asana.

Moskovitz still owns 6.6 million Facebook Class A shares and126.2 million Class B shares, according to the filing.

More than 1.4 billion additional shares held by earlyinvestors and Facebook employees are set to become available fortrading by year's end, as additional post-IPO lockuprestrictions are lifted.

Facebook shares closed at $19.41 on Friday on the Nasdaq,down 3 cents.